Correlation Between Vanfund Urban and Nantong Haixing
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By analyzing existing cross correlation between Vanfund Urban Investment and Nantong Haixing Electronics, you can compare the effects of market volatilities on Vanfund Urban and Nantong Haixing and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Vanfund Urban with a short position of Nantong Haixing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vanfund Urban and Nantong Haixing.
Diversification Opportunities for Vanfund Urban and Nantong Haixing
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Vanfund and Nantong is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Vanfund Urban Investment and Nantong Haixing Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nantong Haixing Elec and Vanfund Urban is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Vanfund Urban Investment are associated (or correlated) with Nantong Haixing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nantong Haixing Elec has no effect on the direction of Vanfund Urban i.e., Vanfund Urban and Nantong Haixing go up and down completely randomly.
Pair Corralation between Vanfund Urban and Nantong Haixing
Assuming the 90 days trading horizon Vanfund Urban Investment is expected to generate 2.18 times more return on investment than Nantong Haixing. However, Vanfund Urban is 2.18 times more volatile than Nantong Haixing Electronics. It trades about 0.1 of its potential returns per unit of risk. Nantong Haixing Electronics is currently generating about -0.11 per unit of risk. If you would invest 512.00 in Vanfund Urban Investment on August 29, 2024 and sell it today you would earn a total of 36.00 from holding Vanfund Urban Investment or generate 7.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vanfund Urban Investment vs. Nantong Haixing Electronics
Performance |
| Timeline |
| Vanfund Urban Investment |
| Nantong Haixing Elec |
Vanfund Urban and Nantong Haixing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vanfund Urban and Nantong Haixing
The main advantage of trading using opposite Vanfund Urban and Nantong Haixing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vanfund Urban position performs unexpectedly, Nantong Haixing can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Nantong Haixing will offset losses from the drop in Nantong Haixing's long position.| Vanfund Urban vs. HaiXin Foods Co | Vanfund Urban vs. Juewei Food Co | Vanfund Urban vs. Touchstone International Medical | Vanfund Urban vs. Jiajia Food Group |
| Nantong Haixing vs. Kweichow Moutai Co | Nantong Haixing vs. Shenzhen Mindray Bio Medical | Nantong Haixing vs. Jiangsu Pacific Quartz | Nantong Haixing vs. G bits Network Technology |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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